• Loading stock data...
Thursday, September 18, 2025

‘PUBG’ Maker Krafton Fails to Meet Expectations with $3.8B IPO

  • Krafton Inc. failed to level up during its $3.8 billion IPO.
  • The IPO was South Korea’s worst in 17 years.
PUBG/Design: Alex Brooks

Video game holding company Krafton stumbled during its $3.8 billion initial public offering, which was South Korea’s biggest in more than a decade.

Shares of Krafton fell as much as 20% during its trading debut Tuesday after opening down 9.9% — the country’s worst IPO performance in 17 years. 

The Tencent-backed company planned to raise at least $5 billion in June by selling 20% of its shares, valuing the company at $25 billion. 

Following its market debut, the company closed with a valuation of around $19 billion. 

Krafton has made a name for itself as the developer of online battle royale gaming hit “PlayerUnknown’s Battlegrounds,” often referred to as “PUBG.”

  • The game’s revenue reached $920 million in 2018, up from $220 million in 2017, when it first released.
  • $790 million of 2018’s total revenue came from PC players.
  • “PUBG Mobile” was the top mobile game in 2020 with $2.6 billion in revenue.

Shares of Krafton closed on Wednesday at $351 per share, down from its IPO price of $430.

Another factor in the poor showing: Regulators in the massive Chinese market are punishing video game companies for neither relinquishing exclusive rights nor reporting details of investments.

Still, Krafton is developing a “PUBG” sequel. The upcoming title has more than 25 million pre-registrations on the Google Play store. App Store registration opens at the end of August.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Ryder Cup: Secret Service Key to Smooth Trump Attendance

Trump’s attendance at the US Open delayed the men’s final.
Sep 13, 2025; San Francisco, California, USA; Los Angeles Dodgers pitcher Clayton Kershaw (22) delivers a pitch against the San Francisco Giants in the first inning at Oracle Park.

Dodgers Pitcher Clayton Kershaw Retiring After 18 Seasons

Kershaw is fourth all-time in career earnings for a pitcher.

Valkyries Debut Season Sets Stage for Free-Agent Buzz

The Valkyries were eliminated in the first round on Wednesday.
Lionel Messi

Messi Near New Deal to Stay in MLS, Miami

His contract with Inter Miami was set to expire in December.

Featured Today

Adriunna Brown

Business Is Booming for WNBA’s Top Beauty Pros

A network of stylists is shaping how players look, feel, and perform.
Premier Lacrosse League
September 14, 2025

‘The Circus Is Coming to Town’: Why Upstart Leagues Start on Tour

In their ambitious plans, a traveling schedule is only temporary.
PHILADELPHIA, PENNSYLVANIA - APRIL 19: A detailed view of the MLB Debut patch on the jersey of Patrick Monteverde #44 of the Miami Marlins prior to game against the Philadelphia Phillies at Citizens Bank Park on April 19, 2025 in Philadelphia, Pennsylvania.
September 13, 2025

The Tiny Jersey Patch at the Center of the MLB Rookie Card..

Autographed cards containing a piece of baseball history have upended the market.
September 11, 2025

Eagles-Chiefs Super Bowl Rematch Could Set More NFL Ratings Records

Fox will nationally televise Sunday afternoon’s matchup.

Thunder Favored, but Bettors Backing Pacers Big in NBA Finals

The most bet-on exact series outcome is the Thunder winning in five.
Fanduel
March 4, 2025

FanDuel Retains Sports Betting Crown With $14B in 2024 Revenue

The FanDuel parent company posts big increases in revenue and net income.
May 8, 2025

FanDuel Misses Projections As Betting Favorites Dominate 

FanDuel is hit by customer-friendly betting outcomes during March Madness.
Sponsored

How World Series Champ Dexter Fowler Became a Premier League Team Owner

Dexter Fowler discusses navigating retirement and embracing new roles as an owner & investor.
February 20, 2025

Americans Bet $148 Billion on Sports in 2024, Up 23.6%

Both overall handle and revenue rose by more than 20% last year.
DraftKings app
February 14, 2025

Lawsuit Says DraftKings VIP Program ‘Preyed On’ Gambling Addicts

The company’s being sued for negligence and intentional infliction of emotional distress.
August 20, 2024

Beloved ‘Backyard Sports’ Brand Says It Will Relaunch After Decade Hiatus

“Backyard Baseball” was a turn-of-the-century computer hit. 
DraftKings
August 2, 2024

DraftKings Announces Consumer Tax Starting Next Year

The company’s stock fell 5% Friday morning.